Comprehensive Unit 2: Conceptual Framework of Management Flashcards

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Management

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The process of coordinating activities and using scarce resources to achieve organizational goals, achieved by working with and through people to balance effectiveness (doing the right things) with efficiency (doing things right).

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Effectiveness

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The degree to which organizational goals are achieved; focuses on doing the right things and achieving strategic objectives. It often requires prioritization and alignment with broader aims.

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Efficiency

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The extent to which resources (time, money, materials, people) are used to achieve a desired outcome. It emphasizes doing things right and minimizing waste.

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SMART criteria

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A framework for setting effective goals: $S$pecific, $M$easurable, $A$ttainable, $R$ealistic, and $T$ime-bound to create clear, trackable targets.

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Planning

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Determining organizational goals, formulating strategies, and developing a comprehensive set of plans to coordinate activities and guide action.

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Organising

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Designing jobs, grouping tasks, establishing patterns of authority, and arranging resources to implement plans and achieve objectives.

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Leading

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Motivating and directing people to work toward organizational goals while managing team dynamics and communication.

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Controlling

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Monitoring performance and taking corrective action to ensure goals are met and deviations are addressed.

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Top-level management

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Senior leaders responsible for setting overall direction, culture, and major policies for the entire organization.

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Middle-level management

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Managers who link top management with lower levels, coordinating activities and implementing policies across departments.

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Lower-level management

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Frontline managers who supervise non-management staff and manage day-to-day operations.

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Mintzberg roles

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A set of ten managerial roles categorized into Interpersonal, Informational, and Decisional roles that illustrate what managers actually do.

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Interpersonal roles

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Figurehead, Leader, and Liaison roles that involve interactions with people inside and outside the organization.

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Informational roles

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Monitor, Disseminator, and Spokesperson roles centered on handling and sharing information.

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Decisional roles

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Entrepreneur, Disturbance Handler, Resource Allocator, and Negotiator roles involving decision-making and resource management.

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General manager

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A manager with broad responsibility across multiple functions, focusing on overall performance rather than a single function.

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Functional manager

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A manager responsible for a specific function such as finance, marketing, or production.

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Leadership vs management

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Leadership focuses on vision, motivation, and change, while management emphasizes planning, organizing, directing, and controlling to maintain order and efficiency.

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Role of a leader

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Leaders influence others, establish direction, align people with vision, and motivate teams toward goals.

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School of hard knocks

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Experiential learning through real-world challenges and mistakes, shaping practical managerial skills beyond formal education.